Prodigy's IDVerifact and DataStealth join forces to prevent data breaches

TORONTO, Aug. 16, 2021 /CNW/ - Prodigy Ventures Inc. (TSXV: PGV) ("Prodigy" or the "Company") today announced an agreement between its wholly-owned subsidiary, IDVerifact Inc. and Datex, to integrate Datex' patented breakthrough cybersecurity solution, DataStealth, to the IDVerifact Inc. platform.

"At IDVerifact, our goal is to produce the most comprehensive platform of digital identity and trusted digital asset solutions for our enterprise clients," says George Colwell, SVP Digital Practices at IDVerifact, "The protection of client data, whether personally identifiable information or payment card information during any process is key to ensuring that our clients cannot only collect the sensitive data they need to support business processes related to onboarding and risk evaluation, but also that they can store and manage that sensitive data securely and in compliance with existing and yet to be defined regulations. Our partnership with Datex provides the IDVerifact platform with DataStealth, a powerful tool in preventing data breaches by preventing unauthorized users and intruders from accessing and stealing sensitive data. The best part is that DataStealth can provide this level of protection without the need for any of our software to be rewritten or modified, and without the need to make any changes to existing user interaction or business processes.  We are very excited to add DataStealth to the IDVerifact platform."

As breaches become more common and compliance regulations become more rigorous, organizations are facing increased pressure around privacy and data security. While simple to deploy, the innovative and robust DataStealth solution alleviates these pressures by securing sensitive information from within an organization's IT environment, eliminating the impact caused by data breaches.

"For organizations dealing with strict privacy, compliance, residency and regulatory requirements, DataStealth has proven to be an extremely innovative, powerful, flexible and scalable solution that is both quick and inexpensive to deploy. IDVerifact, delivering a complete suite of digital identity solutions, is the perfect partner for Datex as we are completely aligned in our thinking when it comes to securing sensitive data and documents." says Ed Leavens, CEO of Datex. "We are delighted to have DataStealth integrated into the already powerful IDVerifact platform."

To learn more, visit our websites, https://prodigy.ventures/ and  https://idverifact.com/.

About Datex

Datex Inc., a technology company based just outside of Toronto, Canada, develops software solutions that address complex business problems. DataStealth, Datex' flagship cybersecurity solution, is a patented breakthrough in cybersecurity software.  With DataStealth, any organization, whether engaged in finance, insurance, healthcare, government, technology, retail, manufacturing, or any other industry, finally has the cybersecurity tools needed to truly safeguard any type of sensitive data. DataStealth enables organizations to prevent the serious consequences of data breaches and ensure legal, privacy, and regulatory compliance.

For more information about Datex and DataStealth, please visit https://www.datex.ca

About IDVerifact Inc.

A Prodigy venture, IDVerifact provides the ability to combine and access a complete suite of leading digital identity providers to meet any business use case. With IDVerifact, organizations stay ahead of fraud, quickly identify risk, and ensure compliance while optimizing their ability to grow revenues and improve client experiences with digital transactions. Providing solutions for identity proofing, KYC, AML, zero proofing and risk proof management. Visit us at https://idverifact.com/

About Prodigy Ventures Inc.

Prodigy delivers Fintech innovation. The Company provides leading edge platforms, including IDVerifact™ for digital identity, and tunl.™ for open banking and customer chat support, coupled with seamless integration of our partners best-of-breed Fintech platforms. Our services business, Prodigy Labs™, integrates and customizes our platforms for unique enterprise customer requirements, and provides technology services for digital identity, open banking, payments and digital transformation. Digital transformation services include strategy, architecture, design, project management, agile development, quality engineering and staff augmentation. Prodigy has been recognized as one of Canada's fastest growing companies with multiple awards.

For more information on…

Prodigy Ventures visit https://Prodigy.Ventures
Prodigy Labs visit https://ProdigyLabs.net 
IDVerifact visit https://IDVerifact.com

Forward-Looking and Cautionary Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's Management's Discussion and Analysis for the three months ended March 31, 2021, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Prodigy Ventures Inc.

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